Business News

Cox Enterprises, Inc. Completes Acquisition of Cox Radio, Inc.

Monday 01. June 2009 - Cox Enterprises, Inc. announced today that its wholly-owned subsidiary, Cox Media Group, Inc., has completed its acquisition of Cox Radio pursuant to a short-form merger in which Cox Radio became an indirect, wholly-owned subsidiary of Cox Enterprises following the successful completion of its tender offer, which expired on Tuesday, May 19, 2009.

As a result of the merger, any outstanding shares of Class A common stock not purchased in the tender offer, other than those as to which appraisal rights are perfected and shares owned by Cox Media Group or held by Cox Radio in treasury, were converted into the right to receive $4.80 per share in cash, without interest. American Stock Transfer & Trust Company, as exchange agent for the merger, will mail to non-tendering stockholders materials to advise them of their rights and facilitate receipt of payment for their Cox Radio shares. We have been advised that trading in Cox Radio shares on the New York Stock Exchange will be suspended prior to the market opening on Monday, June 1st.